Cash flow helps keep the blood moving through the company. When the cash stops flowing, small businesses can struggle and even cease to survive. Many business owners understand that invoicing is the key to getting paid and collecting on those invoices is equally important. Letting invoices turn into past due and even into uncollectable receivables is deadly to a small business.
Finding a process or a system for collecting on past due accounts receivable is a tremendous leg up for a small business owner. Fortunately, I found these three fantastic cash flow apps: FG Receivables Manager, ZenCash, and Fundbox. Each one offers the small business owner a solution for cash flow dilemmas. All three integrate with QuickBooks Online.
FG Receivables Manager
FG Receivables Manager by Funding Gates is perfect for the business that sends out multiple invoices each month, and is also useful for collecting on past-due accounts. FGRM has several features that help coordinate the business owner with the collection process, including a communications center and dashboard.
The communications center gives you complete control over receivables, and tracking of what is happening, with the collection process of the receivables and the client. The account history (below) allows for a collaborative approach to the collections process.
The dashboard lets you see, at a glance, where receivables sit currently and where they will be shortly. A customization screen helps reduce the decision-making process down to minutes. The ability to create a narrow focus then allows for a keen sense of where to collect on the sluggish receivables.
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